Source: CNBC
European stocks opened lower on Thursday as investors look ahead to the latest monetary policy decision from the European Central Bank (ECB) and an OPEC summit in Vienna.
The pan-European Stoxx 600 index opened 0.1 percent lower on Thursday with the majority of sectors in negative territory, Basic resources and oil and gas stocks were the best performing sectors, up around 0.3 percent respectively.
European stocks opened lower on Thursday as investors look ahead to the latest monetary policy decision from the European Central Bank (ECB) and an OPEC summit in Vienna.
The pan-European Stoxx 600 index opened 0.1 percent lower on Thursday with the majority of sectors in negative territory, Basic resources and oil and gas stocks were the best performing sectors, up around 0.3 percent respectively.
In Europe on Thursday, markets will be
closely-watching the latest monetary policy decision from the ECB on
Thursday for hints on potential further stimulus measures and the bank's
latest inflation and growth forecasts. No interest rate change is
expected; the decision is announced at 12:45pm London time.
The central bank is meeting in Austria's capital city, Vienna, where OPEC is also holding a summit.
The 13-member producer group is not expected to cut or freeze oil production at its meeting Thursday – ideas that failed at its last meeting in April.
On Wednesday, however, both Brent and U.S. crude came off session lows by Europe's close, after four OPEC sources said the producer group would consider a new oil output ceiling at this week's meeting, according to Reuters.
Oil prices were cautious Thursday morning, with Brent crude futures trading 5 cents higher at $49.79 a barrel and U.S. West Texas Intermediate (WTI) crude down 9 cents at $48.92.
European investor sentiment has not been given a helping hand by Asia where most stocks eased on Thursday. Japan's Nikkei 225 index tumbled and the yen strengthened against the dollar after the government moved to delay a sales-tax hike by more than two years. Japanese Prime Minister Shinzo Abe announced a delay of the consumption tax hike until 2019 because of continued softness in the economy.
The central bank is meeting in Austria's capital city, Vienna, where OPEC is also holding a summit.
The 13-member producer group is not expected to cut or freeze oil production at its meeting Thursday – ideas that failed at its last meeting in April.
On Wednesday, however, both Brent and U.S. crude came off session lows by Europe's close, after four OPEC sources said the producer group would consider a new oil output ceiling at this week's meeting, according to Reuters.
Oil prices were cautious Thursday morning, with Brent crude futures trading 5 cents higher at $49.79 a barrel and U.S. West Texas Intermediate (WTI) crude down 9 cents at $48.92.
European investor sentiment has not been given a helping hand by Asia where most stocks eased on Thursday. Japan's Nikkei 225 index tumbled and the yen strengthened against the dollar after the government moved to delay a sales-tax hike by more than two years. Japanese Prime Minister Shinzo Abe announced a delay of the consumption tax hike until 2019 because of continued softness in the economy.
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